18 stories mentioning BTO.TO
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RBC Precious Metals Price Target Changes Brief: B2Gold To US$5.75 From $6.50; Centerra To C$30 From $31; DPM To C$58 From $63; Eldorado To US$39 From $50
RBC Precious Metals Price Target Changes Brief: Artemis To C$60 From $62; K92 To C$44 From $46; OceanaGold To C$72 From $78; Alamos To US$52 From $63
RBC Precious Metals Price Target Changes Brief: Bank Says Revised Estimates Reflect Updated Commodity Price Assumptions
National Bank of Canada on Monday maintained its outperform rating on the shares of B2Gold (BTO.TO) while raising its price target to C$10.70 from $10.00 following the miner's first-quarter results.The higher price target reflects a 2.7% increase in the bank's net asset value per share to $11.70 from $11.39.B2Gold's first-quarter results included a financial beat as the Fekola, Goose, Masbate and Otjikoto mines all delivered better-than-expected production and costs, National Bank said.This drove the company's free cash flow higher quarter over quarter, the bank said.B2Gold is trading at P/NAV of 0.65x (EDV 0.87x) and P/CF26 of 5.2x (EDV 5.4x), according to National Bank.Price: $7.22, Change: $-0.14, Percent Change: -1.90%
Stifel Canada on Thursday maintained its buy rating on the shares of B2Gold (BTO.TO) and its C$10.50 price target after the company released first-quarter results."B2Gold reported Q1/26 adjusted EPS of $0.19 vs. our $0.12 (consensus $0.13) on consolidated gold production of 238Koz (+7% vs. budget; +13% vs. our 210Koz). Q1/26 gold cash costs of $1,403/oz sold (cash operating costs $1,005/oz produced) and AISC of $1,964/oz sold were well-below our $1,706/oz and $2,447/oz, respectively, reflecting higher production, lower sustaining capex (timing), and a favorable royalty contribution. FY26 gold production guidance of 820-970Koz was reaffirmed, including a Q2/26 Goose production reset by 10Koz lower to 18-20Koz (vs. 29Koz budgeted) due to the crushing-circuit fire (Apr-2026), and 60-80Koz of Fekola Regional contribution which remains subject to an exploitation permit expected by June-2026. Mali operations continue uninterrupted at normal levels, including fuel supplies despite geopolitical and supply chain challenges, with a process underway to increase diesel storage capacity by 20% with 36% of remaining 2026 fuel requirements hedged at or below budget prices," analyst Ralph Profiti wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $7.00, Change: $+0.91, Percent Change: +14.86%
The Toronto Stock Exchange is down 27 points in choppy trade, with energy the worst performerEnergy, down 2.0% is the worst performer, pulled down by lower oil prices as hopes remain that a deal may be nearing to allow tankers to deliver crude once again from the Persian Gulf to customers. Traders are still waiting Iran's response to the latest U.S. proposal.Limiting losses are gains in info tech (+1.7%) and telecoms (+0.6%).In stocks, B2Gold (BTO.TO) is up over 15% and is the most actively traded on the TSX after it reported a first-quarter earnings beat.Sherritt (S.TO) plunged 32% to $0.17 with 7.2-million shares being traded, after it suspended its direct participation in joint-venture activities in Cuba, after the U.S. widened sanctions on the country. Sherritt is repatriating its expatriate employees in Cuba. Three directors, including board chair Brian Imrie are reported to have resigned from the board. Sherritt and the General Nickel Company of Cuba each hold a 50% stake in the Moa joint venture.
B2Gold (BTO.TO) has completed the sale of a 70% interest in Fingold Ventures to Agnico Eagle Mines (AEM.TO) for US$325 million, B2Gold said Thursday.Fingold owns several exploration claims adjacent to Rupert Resources' (RUP.TO) Ikkari project in Finland.B2Gold plans to use the proceeds to further strengthen its financial position, to continue to purchase shares under its recently renewed normal course issuer bid, and for general working capital purposes, the company previously said.Aurion Resources (AU.V) owns the remaining 30% in Fingold.
(Adds additional detail on the B2Gold deal in the fourth paragraph and further details on the three separate transactions in the fifth and sixth paragraphs)Agnico Eagle Mines (NYSE and TSX: AEM) announced Monday a plan to complete a consolidation of properties in the Central Lapland Greenstone Belt of Northern Finland that involves it entering into definitive agreements in respect of three separate transactions.These transactions include the acquisition of all of the issued and outstanding shares of Rupert Resources Ltd. (RUP.TO); the acquisition of all of the issued and outstanding shares of Aurion Resources Ltd. (AU.V); and the acquisition of a 70% interest in Fingold Ventures Ltd. held by B2Gold Corp. (BTO.TO), which together with the 30% interest held by Aurion, would result in Agnico Eagle owning a 100% ownership interest in the Fingold JV.A statement noted the company currently owns 13.9% of Rupert on a non-diluted basis and 9.9% of Aurion on a partially diluted basis.For its deal, B2Gold has agreed to sell to Agnico its 70% interest in Fingold in exchange for US$325 million in cash. In addition, B2Gold and Agnico Eagle have agreed to enter into a collaboration agreement related to their respective gold mining operations located in Nunavut, Canada.On the three separate transactions, Agnico said it puts Finland on a pathway to become an approximately 500,000-ounce annual gold production hub within the next decade; provides the financial, technical and on-the-ground resources to develop the highly prospective Ikkari gold project; and "creates significant value through optimized project development, including an extension of the Ikkari open pit onto the Fingold JV area, which is expected to capture additional gold ounces in the mine plan on both sides of the property boundary."AEM added the three separate transactions consolidate an approximate 2,492 km squared regional land position within the under-explored Central Lapland Greenstone Belt, "unlocking significant exploration potential with robust targets across all stages of exploration"; while integrating Ikkari into the company's established Finland platform delivers operating, development and construction synergies estimated at up to C$500 million, "over and above the value benefit that is expected to be realized by eliminating the property boundary constraint."Agnico Eagle's President and Chief Executive Officer, Ammar Al-Joundi said: "These transactions deliver on our long standing regional strategy and build on our more than 20 years of best-in-class operating experience in Finland to establish another multi-asset, multi-decade platform in our portfolio within a world class gold belt. By consolidating the highly prospective and under explored Central Lapland Greenstone Belt, we are bringing together our long life Kittila mine, the Ikkari gold project, unconstrained by property boundaries, and a district scale land position with clearly defined targets across all stages of exploration. Supported by a proven local team with the technical, operating and exploration expertise to execute, this consolidation positions us to accelerate development, capture unique synergies, drive project level value and unlock substantial long term exploration upside for our shareholders. This approach mirrors how we have successfully built value across our Canadian platforms and represents an important next chapter for our Finland business".Shares in AEM were last look down 1.1% in US premarket trade on Monday, amid a lower U.S. futures market. AEM was up 2.3% in Canada and 2.4% in the U.S. last Friday.
Agnico Eagle Mines (NYSE and TSX: AEM) announced Monday a plan to complete a consolidation of properties in the Central Lapland Greenstone Belt of Northern Finland that involves it entering into definitive agreements in respect of three separate transactions.These transactions include the acquisition of all of the issued and outstanding shares of Rupert Resources Ltd. (RUP.TO); the acquisition of all of the issued and outstanding shares of Aurion Resources Ltd. (AU.V); and the acquisition of a 70% interest in Fingold Ventures Ltd. held by B2Gold Corp. (BTO.TO), which together with the 30% interest held by Aurion, would result in Agnico Eagle owning a 100% ownership interest in the Fingold JV.A statement noted the company currently owns 13.9% of Rupert on a non-diluted basis and 9.9% of Aurion on a partially diluted basis.Agnico Eagle's President and Chief Executive Officer, Ammar Al-Joundi said: "These transactions deliver on our long standing regional strategy and build on our more than 20 years of best-in-class operating experience in Finland to establish another multi-asset, multi-decade platform in our portfolio within a world class gold belt. By consolidating the highly prospective and under explored Central Lapland Greenstone Belt, we are bringing together our long life Kittila mine, the Ikkari gold project, unconstrained by property boundaries, and a district scale land position with clearly defined targets across all stages of exploration. Supported by a proven local team with the technical, operating and exploration expertise to execute, this consolidation positions us to accelerate development, capture unique synergies, drive project level value and unlock substantial long term exploration upside for our shareholders. This approach mirrors how we have successfully built value across our Canadian platforms and represents an important next chapter for our Finland business".Shares in AEM were last look down 1% in US premarket trade on Monday, amid a lower U.S. futures market. AEM was up 2.3% in Canada and 2.4% in the U.S. last Friday.
B2Gold (BTO.TO) late on Sunday provided an update on the near-term operational plan related to a fire in certain areas of the crushing circuit at the Goose Mine that occurred April 16.The Goose Mine has mobile crushers on site, and the preliminary operational plan is to utilize these to feed crushed ore directly to the fine ore stockpile. Additional temporary crushing capacity has been sourced and will be transported to site in the second quarter.A preliminary revised mill processing plan has been developed for the second quarter based on the use of mobile crushers while repairs to the affected crushing circuit are completed.The repairs are expected to be completed in the third quarter and are estimated to cost about C$10 million. The crushing circuit will be able to operate at an average daily capacity of about 3,200 tonnes per day by the end of the third quarter.Gold production is expected to continue at a reduced level than previously anticipated in the second quarter. B2Gold lowered its second-quarter gold production forecast to 18,000 to 20,000 ounces, a reduction of about 10,000 ounces from the previous forecast.The company reiterated full-year 2026 gold production guidance for the Goose Mine of 170,000 to 230,000 ounces. The impact of lower availability of crushed ore as a result of the fire is expected to be limited to the second quarter of 2026.The company's initial assessment was that the fire damage was localized to the crushing circuit area. There was no damage or impact to the mill or power facility.No injuries were reported and no medical treatment was required.
RBC Capital Markets said Wednesday that the first quarter represents a seasonally weak period for operating results of gold equities.According to RBC, the market is expected to focus on forward-looking statements on the impact of higher gold and energy prices to costs, as well as emerging inflationary pressures."Although we expect no formal cost guidance revisions across our coverage, commentary on potential changes into mid-year updates could present surprise risk," RBC said.RBC said Alamos (AGI.TO), Barrick Mining (ABX.TO), Eldorado Gold (ELD.TO), G Mining (GMIN.TO), SSR Mining (SSR.TO) and Wheaton Precious Metals (WPM.TO) have outlined materially softer first quarter.RBC said companies with key upcoming deliverables into the first quarter include B2Gold (BTO.TO), Barrick, Alamos, Agnico Eagle (AEM.TO), Centerra (CG.TO), Franco Nevada (FNV.TO), Iamgold (IMG.TO), K92 (KNT.TO), Kinross (K.TO), Lundin Gold (LUG.TO), Orla Mining (OLA.TO), OR Royalties (OR.TO) and Wesdome (WDO.TO).According to RBC, gold equity valuations at spot have expanded in recent weeks, but are still reasonably attractively valued.Price: $66.72, Change: $-0.42, Percent Change: -0.63%